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we have moved from a third of our economy being manufacturing and about ten percent of our economy being finance real estate and insurance find it finance insurance and real estate f.-i are those fire we've gone from mostly manufacturing and a little bit of fire economy to the exact reverse we are now over thirty i think it's thirty five percent or something like that is is the fire economy and only eight nine ten eleven maybe it's a lot or twelve percent is what actually here's there's the chart you can see and as that fire economy has gone up what that means is that you know real estate is is going up artificially in price because that's the new economy so everybody's chasing that as manufacturing collapses and what collapses along with manufacturing good paying jobs so you have people not you know they're not getting good paying jobs they're not getting good wages you can see it's now eleven point two percent if i'm reading the chart right and whereas the economy is now it isn't twenty one percent twenty one point nine percent so you know that's what's happened and so the good paying
we have moved from a third of our economy being manufacturing and about ten percent of our economy being finance real estate and insurance find it finance insurance and real estate f.-i are those fire we've gone from mostly manufacturing and a little bit of fire economy to the exact reverse we are now over thirty i think it's thirty five percent or something like that is is the fire economy and only eight nine ten eleven maybe it's a lot or twelve percent is what actually here's there's the...
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Feb 16, 2013
02/13
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CSPAN
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out of the economy. i'm afraid we are getting to a situation where we are being told that tax increases are beat -- are bad for the economy, too much borrowing is bad for the economy, particularly in the future you are projecting, and spending cuts are bad for the economy, and that does not leave us with many options. >> the effects of fiscal policy on the economy are different under different economic circumstances. that is a widely held -- not universally held, but widely held -- view among economists, and that is the perspective we take. under current economic circumstances, when private demand for goods and services is low, additional government demand for the government's offering additional private demand can both increase the overall demand for goods and services and thus encourage businesses to hire more. under different economic circumstances of the sort we usually have in this country and we expect we will have again five or 10 years from now, then this competition you are describing between th
out of the economy. i'm afraid we are getting to a situation where we are being told that tax increases are beat -- are bad for the economy, too much borrowing is bad for the economy, particularly in the future you are projecting, and spending cuts are bad for the economy, and that does not leave us with many options. >> the effects of fiscal policy on the economy are different under different economic circumstances. that is a widely held -- not universally held, but widely held -- view...
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Feb 13, 2013
02/13
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out of the economy. i'm afraid we are getting to a situation where we are being told the tax increases are bad, too much borrowing is bad for the economy, particularly in the future and spending cuts are bad for the economy and that doesn't leave us with many options. >> the effects of fiscal policy on the economy are different under different economic circumstances. that is a widely held, not universally held but widely held view by economists. under current economic circumstances when demands for goods and services, additional demand for spending or the government spurring additional private demand can both increase the overall demand for goods and services and encourage businesses to hire more. under different economic circumstances, and we expect we will have again, five to 10 years from now, this competition you are describing can become acute. and that's why under those economic circumstances, smaller government deficits are good for the economy. >> mr. mcdermott. >> good to see you, mr. elmendorf.
out of the economy. i'm afraid we are getting to a situation where we are being told the tax increases are bad, too much borrowing is bad for the economy, particularly in the future and spending cuts are bad for the economy and that doesn't leave us with many options. >> the effects of fiscal policy on the economy are different under different economic circumstances. that is a widely held, not universally held but widely held view by economists. under current economic circumstances when...
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we have moved from a third of our economy being manufacturing and about ten percent of our economy being finance real estate and insurance find it finance insurance and real estate f.-i our bus fire we've gone from mostly manufacturing and a little bit of fire economy to the exact reverse we are now over thirty i think it's thirty five percent or something like that is is the fire economy and only eight nine ten eleven maybe it's a lot or twelve percent is well actually here's there's the chart you can see and as that fire economy has gone up what that means is that you know real estate is is going up artificially in price because that's the new economy so everybody is chasing that as manufacturing collapses and what collapses along with manufacturing good paying jobs so you have people not you know they're not getting good paying jobs they're not getting good wages you can see it's now eleven point two percent if i'm reading the chart right and whereas the economy is now it isn't twenty one percent twenty one point nine percent so you know that's what's happened and so the good paying m
we have moved from a third of our economy being manufacturing and about ten percent of our economy being finance real estate and insurance find it finance insurance and real estate f.-i our bus fire we've gone from mostly manufacturing and a little bit of fire economy to the exact reverse we are now over thirty i think it's thirty five percent or something like that is is the fire economy and only eight nine ten eleven maybe it's a lot or twelve percent is well actually here's there's the chart...
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Feb 14, 2013
02/13
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CSPAN
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we think the economy would be growing. but as i have said on many occasions, a path that had less government debt would by the end of the decade would lead to a stronger economy. >> even by its own admission said the debt beyond the 10- year level is going to reach unsustainable levels and the economy would suffer. what would the economic impact be if we raise taxes by $85 billion by the end of this fiscal year, having an $85 billion cut due to the sequester that also starts on march 1? nature of the tax increase. bylet's assume it is done tax rate increases. >> it is dependent on whose tax rates were cut. but in general -- >> on the top 1% again that includes small business owners. replaced by an avifflet equivalent dollar amount, that would be an improvement for the economy because we think the pro pencity to spend would be smaller dollar for dollar than the spending -- >> the lady on the corner that owns the dry cleaning store who has her taxes increased dramatically is going to invest as much in the economy and continu
we think the economy would be growing. but as i have said on many occasions, a path that had less government debt would by the end of the decade would lead to a stronger economy. >> even by its own admission said the debt beyond the 10- year level is going to reach unsustainable levels and the economy would suffer. what would the economic impact be if we raise taxes by $85 billion by the end of this fiscal year, having an $85 billion cut due to the sequester that also starts on march 1?...
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Feb 14, 2013
02/13
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out of the economy. i'm afraid we are getting to a situation where we are being told the tax increases are bad, too much borrowing is bad for the economy, particularly in the future and spending cuts are bad for the economy and that doesn't leave us with many options. >> the effects of fiscal policy on the economy are different under different economic circumstances. that is a widely held, not universally held but widely held view by economists.[applause] under current economic circumstances when demands for goods and services, additional demand for spending or the government spurring additional private demand can both increase the overall demand for goods and services and encourage businesses to hire more. under different economic circumstances, and we expect we will have again, five to 10 years from now, this competition you are describing can become acute. and that's why under those economic circumstances, smaller government deficits are good for the economy. >> mr. mcdermott. >> good to see you, mr.
out of the economy. i'm afraid we are getting to a situation where we are being told the tax increases are bad, too much borrowing is bad for the economy, particularly in the future and spending cuts are bad for the economy and that doesn't leave us with many options. >> the effects of fiscal policy on the economy are different under different economic circumstances. that is a widely held, not universally held but widely held view by economists.[applause] under current economic...
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economy needs to. achieve escape velocity and i think i know what he means by that but escape velocity is a term from physics and has a very specific meaning as an algorithm for a rocket to achieve escape velocity you know isn't this another example of an economist trying to sound like he knows what the hell he's talking about. absolutely i can't disagree with that i mean what what what what. does this cape philosophy mean in the context of economics if it doesn't mean anything i think what it's trying to say is that the economy needs to grow and to grow the economy we need to print more money and are willing to sacrifice the risk of having any inflation to create this growth but the problem is that we've had thirty years of this thinking and every single year from the reagan thatcher onwards the amount of debt it's required to create one unit of growth has been ever increasing almost exponentially so we're at a point of hyper inflation well they don't know what to do that is different so they have to
economy needs to. achieve escape velocity and i think i know what he means by that but escape velocity is a term from physics and has a very specific meaning as an algorithm for a rocket to achieve escape velocity you know isn't this another example of an economist trying to sound like he knows what the hell he's talking about. absolutely i can't disagree with that i mean what what what what. does this cape philosophy mean in the context of economics if it doesn't mean anything i think what...
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Feb 17, 2013
02/13
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FBC
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>> i'm not sure it's a good thing for the economy. i don't think it's a bad thing for the economy. i think it's a bad thing for small and medium sized businesses, but look, when you have apple who has more money than the u.s. government, but of course, we all have more money than the u.s. government, there's no real place to put this money, and what jonas talked about with this, give it back in dividend which a lot of people consider lazy and uncreative to try to go out and buy company. the rich are getng richer and the big companies, the only place they can use the huge acquisitions to put the huge pile of cash to good use. >> brenda: gary b, we talk about the markets be in record highs or all-time highs and we were basicly where we were six years ago. >> exactly, brenda. in fact the nasdaq is way below its all-time highs, so there's plenty of room to grow and getting back to,ou know, larry and jonas made excellent points. normally merger activity is a harbinger of an improving economy and i think the stock market could break higher. the only point, jonas said about buffet always
>> i'm not sure it's a good thing for the economy. i don't think it's a bad thing for the economy. i think it's a bad thing for small and medium sized businesses, but look, when you have apple who has more money than the u.s. government, but of course, we all have more money than the u.s. government, there's no real place to put this money, and what jonas talked about with this, give it back in dividend which a lot of people consider lazy and uncreative to try to go out and buy company....
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Feb 13, 2013
02/13
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economy and profits for this year. on top of that, financial conditions in the eurozone are still a threat to u.s. stocks. >> with the market at current levels, which... basically looks like they're priced for perfection, there doesn't leave a lot of room for any disappointing news. and there are a lot of areas that could create disappointing news. >> reporter: weissberg says many market pros believe stocks are headed higher, but they need a catalyst, and that's unlikely to come from tonight's state of the union. suzanne pratt, "n.b.r.," new york. >> susie: still ahead, why ailing smartphone maker blackberry is hoping the sports market will help it on its road to recovery. we'll explain in tonight's "beyond the scoreboard." a "silly sideshow--" that's what apple c.e.o. tim cook called a recent lawsuit filed by hedge fund manager david einhorn. speaking at a goldman sachs technology conference today, cook also said apple is considering einhorn's proposal to issue preferred stock and return more money to shareholders. ei
economy and profits for this year. on top of that, financial conditions in the eurozone are still a threat to u.s. stocks. >> with the market at current levels, which... basically looks like they're priced for perfection, there doesn't leave a lot of room for any disappointing news. and there are a lot of areas that could create disappointing news. >> reporter: weissberg says many market pros believe stocks are headed higher, but they need a catalyst, and that's unlikely to come...
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Feb 13, 2013
02/13
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FOXNEWS
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juxtaposed in position. >> they want to make economy and growth the and the economy the center of the speech. and in the inaugural address that wasn't mentioned and dwelled on meeting the liberal pace and gay rights, immigration reform, climate change, now, he says he wants to focus on the economy. last week he said he does believe in economic growth, but it has to be managed economic growth and it has to be economic growth with equity and fairness and that's why we're seeing, i think, this increase in the minimum wage, which won't necessarily create jobs, much like a tax, raising taxes on companies, it's not clear that that's going to increase jobs. and the other thing that we've seen since the inaugural address was the disbanding of his jobs council where he was bringing in business leaders to provide advice how to shrink the economy. it's quite interesting to note that when the -- when that jobs council was put together the unemployment rate was 8.3%. it's ticked down now to all of 7.9%, meaning not much in four years. so, that's where this president stands as he tries to make his
juxtaposed in position. >> they want to make economy and growth the and the economy the center of the speech. and in the inaugural address that wasn't mentioned and dwelled on meeting the liberal pace and gay rights, immigration reform, climate change, now, he says he wants to focus on the economy. last week he said he does believe in economic growth, but it has to be managed economic growth and it has to be economic growth with equity and fairness and that's why we're seeing, i think,...
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Feb 16, 2013
02/13
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it's easy to flood the economy with cheap money. it's not that easy to pull it back. >> dan gross, stephen moore, zanny beddoes, great to see you all. have a good weekend. >>> up next, rethinking education. students are getting a jump in the lucrative field. is the focus on jobs at this age the wrong approach? what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. we've got a lot of empty cans. ( ♪ ) for those nights when it's more than a bad dream, be ready. for the days when you get a sudden call from the school, be ready. for the times you need to double-check the temperature on the thermometer, be ready. when you have children's motrin on hand, you're ready. for high fever, nothing works faster or lasts longer than children's motrin. be ready with children's motrin. i've been using crest pro-health for a week. my dentist said it was gonna help transform my mouth. [ male announcer ] go pro. for a clean that's up to fo
it's easy to flood the economy with cheap money. it's not that easy to pull it back. >> dan gross, stephen moore, zanny beddoes, great to see you all. have a good weekend. >>> up next, rethinking education. students are getting a jump in the lucrative field. is the focus on jobs at this age the wrong approach? what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. we've...
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then you will have a problem with as you call the real economy but don't only focus on the real economy because of your own fix the financial system then you will have like a one month that has only one leg and the other one is a wooden leg that is trailing behind you would need to work on both one last question is of course something i have to ask everybody is talking about the currency wars everyone is doing at the central banks all over the world are trying to consolidate their currency rates to meet their economies more competitive and that in a way is is natural in their desire to there are no currency wars today we are far far further away today from the currency war than we were two or three years ago when these friends phrase was coined ok what we have today is a number of countries exploring ways in which they can improve the growth prospects and improve the job creation ok not necessarily manipulating the currency to gain compared to numbers at the expense of the next person it is in everybody's interest that the united states recover their dynamism it's going to create growth
then you will have a problem with as you call the real economy but don't only focus on the real economy because of your own fix the financial system then you will have like a one month that has only one leg and the other one is a wooden leg that is trailing behind you would need to work on both one last question is of course something i have to ask everybody is talking about the currency wars everyone is doing at the central banks all over the world are trying to consolidate their currency...
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Feb 13, 2013
02/13
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WBAL
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, growing the government economy, not the private sector economy. we have seen wall street greed, now government greed. never enough taxes, never enough spending. one city doing very well in the president's economy. that's washington, d.c. we as the republican party need to be about energy reform, education reform, about simplifying the tax code, taking out loopholes and special breaks. yes, we need to be consistent with principles, but we need to show how principles are aspirational and how they help people join and thrive in the middle class. >> the president talked about lurching from manufactured crisis to manufactured crisis. you get to be executive in baton rouge and keep some of the washington mess off of you, but when does standing for something mean obstructionism? the folks watching at home are so hungry to see cooperation and progress? >> look, the president has an opportunity to lead. for example, on sequestration. talking about less than 3% of the federal government, what they spend every year, certainly a prioritized list of cuts. he j
, growing the government economy, not the private sector economy. we have seen wall street greed, now government greed. never enough taxes, never enough spending. one city doing very well in the president's economy. that's washington, d.c. we as the republican party need to be about energy reform, education reform, about simplifying the tax code, taking out loopholes and special breaks. yes, we need to be consistent with principles, but we need to show how principles are aspirational and how...
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then you will have a problem with as you call the real economy but don't only focus on the real economy because of your own fix the financial system then you will have like a one month that has only one leg and the other one is a wooden leg that is trailing behind you would need to work on both one last question is of course something i have to ask everybody is talking about the currency wars everyone is doing at the central banks all over the world are trying to consolidate their currency rates to make their economies more competitive and that in a way is is natural there are no currency wars today we are far far further away today from the currency war than we were two or three years ago when these french phrase was coined ok what we have today is a number of countries exploring ways in which they can improve the growth prospects and improve the job creation ok not necessarily manipulating the currency to gain competitiveness at the expense of the next person. it is in everybody's interest that the united states recover their dynamism it's going to create growth and jobs everywhere in
then you will have a problem with as you call the real economy but don't only focus on the real economy because of your own fix the financial system then you will have like a one month that has only one leg and the other one is a wooden leg that is trailing behind you would need to work on both one last question is of course something i have to ask everybody is talking about the currency wars everyone is doing at the central banks all over the world are trying to consolidate their currency...
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Feb 13, 2013
02/13
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WTTG
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it will hurt the economy and we shouldn't go there. and very frankly, we have been in session now some six weeks, not one bill have the republicans put on the floor of the house to avoid sequestration. >> we need a plan. we need leadership to make sure this is set aside. i was disappointed i didn't hear specifics from the president on how we were going to do that. >> on the issue of guns, you heard the president lay out a long list of places where gun violence has erupted in this country. aurora, colorado, littleton, and most notably in our area, blacksburg, virginia, and the campus of virginia tech. when they came out tonight, lawmakers on both side of the aisle had a very different view on where this debate goes, not tonight, but tomorrow. on wednesday, when they get back to work and begin to debate this again. republicans are saying they heard nothing new tonight. democrats are saying this was a change on how this country is going to view gun control. >> i think the president said let's vote, let every member of congress go on recor
it will hurt the economy and we shouldn't go there. and very frankly, we have been in session now some six weeks, not one bill have the republicans put on the floor of the house to avoid sequestration. >> we need a plan. we need leadership to make sure this is set aside. i was disappointed i didn't hear specifics from the president on how we were going to do that. >> on the issue of guns, you heard the president lay out a long list of places where gun violence has erupted in this...
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Feb 17, 2013
02/13
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i think fundamentally it's because the economy is a steel of poor economy. per capita income is still 18% of the u.s. per capita income. a long way for the chinese economy to go to catch up. so fundamentally they're still basic forces, both on the demand side, supply side so forth to push the economy to grow reasonably fast. >> people have been talking about corruption in china because over the last few months we've heard a lot of stories, various members of standing committee and this is generally a conversation even beyond that that there is more than people think there is just gets hidden. is corruption a big problem in china? >> yes, it is a problem. it is a political problem more than an economic problem. >> why is it an economic problem? >> i often joke, this is, i warn people and this is oversimplifying fine line. i often joke that in china corruption is done. things and investments are done. where many parts of the world corruption happens without actual investments being done. which is better? of course, i'm not defending corruption. >> but pro-grow
i think fundamentally it's because the economy is a steel of poor economy. per capita income is still 18% of the u.s. per capita income. a long way for the chinese economy to go to catch up. so fundamentally they're still basic forces, both on the demand side, supply side so forth to push the economy to grow reasonably fast. >> people have been talking about corruption in china because over the last few months we've heard a lot of stories, various members of standing committee and this is...
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then you will have a problem with the as you call the real economy but don't only focus on the real economy because if you don't fix the financial system then you will have like a one month that has only one leg and the other one is a wooden leg that is trailing behind you would need to work on both one last question is of course something i have to ask everybody is talking about the currency wars everyone is doing at the central banks all over the world are trying to consolidate their currency rates to meet their economies more competitive and that in a way is is natural the desire to get there there are no currency wars today we are far far further away today from the currency war than we were two or three years ago when these french phrase was coined ok what we have today is a number of countries exploring ways in which they can improve the growth prospects and improve the job creation ok not necessarily manipulating the currency to gain competitiveness at the expense of the next person. it is in everybody's interest that the united states recover their dynamism it's going to create grow
then you will have a problem with the as you call the real economy but don't only focus on the real economy because if you don't fix the financial system then you will have like a one month that has only one leg and the other one is a wooden leg that is trailing behind you would need to work on both one last question is of course something i have to ask everybody is talking about the currency wars everyone is doing at the central banks all over the world are trying to consolidate their currency...
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Feb 15, 2013
02/13
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WETA
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you debate the state of the economy. you debate what you think is the effectiveness of the measures you've already taken or not. you think about and speculate on what's going to happen next both internally and externally. and then you say okay, should we change policy to adapt to that and then for the weeks in between, you're ideally doing economic thinking, talking with business, getting briefings from staff, from outside people, and just generally very concentrated on what are the challenges facing that economy. >> rose: did you find yourself in the majority or the minority? >> very much the minority for a good chunk of my time there. so when i got there, i got there after the height of the crisis. >> rose: right. >> so 2008. >> i was actually there in mid 2009. and as many of your guests have spoken about, you know the high drama days of lehman brothers or the bank running-- i was there after that when things were just bad. and the banking system is under repair. and so it was a little less frantic for me. for the fir
you debate the state of the economy. you debate what you think is the effectiveness of the measures you've already taken or not. you think about and speculate on what's going to happen next both internally and externally. and then you say okay, should we change policy to adapt to that and then for the weeks in between, you're ideally doing economic thinking, talking with business, getting briefings from staff, from outside people, and just generally very concentrated on what are the challenges...
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Feb 21, 2013
02/13
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CNBC
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we're not taking money out of the economy. 're letting it stay in the pockets of hard-working americans. we are -- we are giving them the opportunity to save billions of dollars that they can put to work in their home -- >> i think problem republicans have -- i think the problem they have right now and the polls are supportive of this, they see the president coming forward with a compromise. he's saying i want tax increases too where the other side is saying, no, just spending cuts and at least the way that's playing with the public is one guy, the president's willing to compromise, the other folks are stone walling. and that's why i think the risk lays probably more with republicans for the blame. >> let me ask you one more here. do you think the media, first of all, understands it was obama's idea in the first place? will they ever acknowledge that? >> one, i don't think they care. they really don't care about looking at those things. look, and to get what your guest just said a minute ago. that's true if republicans allow i
we're not taking money out of the economy. 're letting it stay in the pockets of hard-working americans. we are -- we are giving them the opportunity to save billions of dollars that they can put to work in their home -- >> i think problem republicans have -- i think the problem they have right now and the polls are supportive of this, they see the president coming forward with a compromise. he's saying i want tax increases too where the other side is saying, no, just spending cuts and at...
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then you will have a problem with as you called the real economy but don't only focus on the real economy because if you don't fix the financial system then you will have like a one month that has only one leg and the other one is a wooden leg that is trailing behind you would need to work on both one last question is of course something i have to ask everybody is talking about the currency wars everyone is doing at the central banks all over the world are trying to massage their currency rates to make their economies more competitive and that in a way is is natural there are no currency wars today we are far far further away today from the currency war than we were two or three years ago when these french phrase was coined ok what we have today is a number of countries exploring ways in which they can improve the growth prospects and improve the job creation ok not necessarily manipulating the currency to gain competitiveness at the expense of the next person. it is in everybody's interest the two united states recover their dynamism is going to create growth and jobs everywhere in the w
then you will have a problem with as you called the real economy but don't only focus on the real economy because if you don't fix the financial system then you will have like a one month that has only one leg and the other one is a wooden leg that is trailing behind you would need to work on both one last question is of course something i have to ask everybody is talking about the currency wars everyone is doing at the central banks all over the world are trying to massage their currency rates...
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Feb 13, 2013
02/13
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CNBC
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we need to grow our economy. we have very important problems ahead of us that will require a bipartisan solution. and let us hope that everyone is up to the challenge. >> bob shrum, do you think minimum wage as somebody who has worked on that in the past, has any chance of flying with this congress and what do you think is the biggest take-away from this speech tonight? >> well, i don't know if it will fly with this congress. it will fly with the american people. i understand it isn't important to carley, it isn't important to me, but it's important to millions out there who work very hard and don't earn enough to get above the poverty level. >> it won't help us create jobs. that's the problem. >> you know, you guys have the same -- carley, i didn't interrupt you. and you're not ceo here. >> but i didn't question your motives. >> i'm not questioning your motives. i'm saying, i understand it doesn't matter to you. and by the way, the president doesn't question people's motives. marco rubio was wrong about that. wh
we need to grow our economy. we have very important problems ahead of us that will require a bipartisan solution. and let us hope that everyone is up to the challenge. >> bob shrum, do you think minimum wage as somebody who has worked on that in the past, has any chance of flying with this congress and what do you think is the biggest take-away from this speech tonight? >> well, i don't know if it will fly with this congress. it will fly with the american people. i understand it...
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the whole structure of our economy is very different from what the other countries of the e.u. would believe that it is so they made a lot of mistakes we pointed out the mistakes that the think is that ok we have a better relationship they trust that greeks will follow the plan but the plan is not working so we have to start thinking in a different way but if a part of the recipe is throwing another five point six billion euros in aid to greece next month surely that's going to help. this is helping because we have to pay what we all so the money that can mean they go out we're just paying down debt so this means we have to start creating growth to keep money for people in greece to help young people everything is planned but it's not to go and we see that not in numbers we see next to us you see the pictures and the photographs from greece from greeks trying to get some food just briefly this grace just finally briefly i would ask you should greece then leave the eurozone would it be better off out of the euro zone just briefly now but the eurozone should become a safety net e
the whole structure of our economy is very different from what the other countries of the e.u. would believe that it is so they made a lot of mistakes we pointed out the mistakes that the think is that ok we have a better relationship they trust that greeks will follow the plan but the plan is not working so we have to start thinking in a different way but if a part of the recipe is throwing another five point six billion euros in aid to greece next month surely that's going to help. this is...
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economy needs to. achieve escape velocity and i think i know what he means by that but escape velocity is a term from physics and has a very specific meaning as an algorithm for a rocket to achieve escape velocity isn't this another example of an economist trying to sound like he knows what the hell he's talking about absolutely i can't disagree with that i mean what what what what on earth does this cape philosophy mean in the context of economics if it doesn't mean anything i think what it's what he's trying to say is that the economy needs to grow and to grow the economy we need to print more money and are willing to sacrifice the risk of having any inflation to create this growth but the problem is that we've had thirty years of this thinking and every single year from the reagan factor on or the amount of debt it's required to create one unit of growth has been ever increasing almost exponentially so we're at a point of hyper inflation well they don't know what to do those different so they have t
economy needs to. achieve escape velocity and i think i know what he means by that but escape velocity is a term from physics and has a very specific meaning as an algorithm for a rocket to achieve escape velocity isn't this another example of an economist trying to sound like he knows what the hell he's talking about absolutely i can't disagree with that i mean what what what what on earth does this cape philosophy mean in the context of economics if it doesn't mean anything i think what it's...
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Feb 13, 2013
02/13
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CNBC
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why is it that spending cuts are bad for the economy but tax increases are somehow not bad for the economy? i don't understand that logic. we need both. we have been having this debate back and forth. that is part of the problem. and we need some spending restraint. the big area where we need it is in health care. the rising health care cost is in growth to the economy. if we can find ways to bring down the costs of health care we can have a win win. >> the report that came out, which shows a slight decline in the deficit goes back up over $1 trillion in ten years because of social security and yet the president and the democrats don't want to touch entitlements. >> they don't want to cut spending. and that hasn't happened. over the weekend speaker pelosi was saying it is not a spending problem it is a deficit problem. even today, the minority whip was saying it is a pay-for problem. bottom line it is spending and americans recognize that the government has to live within it's means and it is costing us jobs and people can't make the hiring decisions to get the going again. >> it has to be
why is it that spending cuts are bad for the economy but tax increases are somehow not bad for the economy? i don't understand that logic. we need both. we have been having this debate back and forth. that is part of the problem. and we need some spending restraint. the big area where we need it is in health care. the rising health care cost is in growth to the economy. if we can find ways to bring down the costs of health care we can have a win win. >> the report that came out, which...
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Feb 14, 2013
02/13
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says the tough economy is dragging down results. and alamos gold, goes digging for investors, on wall street. it made its trading debut here at the big board. that and more tonight on "n.b.r."! >> susie: everyone from american workers, to business leaders, and investors had a strong opinion today about the minimum wage. they were reacting to president obama's proposal to increase the minimum wage to $9 an hour, up from $7.25. the plan was unveiled in the president's state of the union address last night. and today it re-kindled a nation-wide debate of whether the measure would help or hurt workers and businesses, and the economy. darren gersh reports. >> reporter: supporters of a higher minimum wage increase point to studies showing little impact on employment after the pay at the bottom of the job market goes up. one reason is that employers may actually come out ahead when they are forced to pay workers more. productivity and job satisfaction improve and turnover falls. >> so employers get to reap the benefits of lower hiring and
says the tough economy is dragging down results. and alamos gold, goes digging for investors, on wall street. it made its trading debut here at the big board. that and more tonight on "n.b.r."! >> susie: everyone from american workers, to business leaders, and investors had a strong opinion today about the minimum wage. they were reacting to president obama's proposal to increase the minimum wage to $9 an hour, up from $7.25. the plan was unveiled in the president's state of the...
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Feb 16, 2013
02/13
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economy. -- on the 2013 budget and u.s. economy. from the house budget committee, this is two and a half hours. >> thank you again for coming and testifying. i want to thank you for your staff putting together the latest budget economic outlook. we understand you had a time crunch given the end of year episodes that occurred. i want to say that you didn't miss much of a deadline and to put out your baseline in a fairly quick form given the circumstances you had to contend in. i am sorry to say that the cbo says our economy will grow by only 1.4% this year. unemployment will hover around 8% this year. we will add another trillion dollars to our debt. that is the news we have received. further down the road things get worse. the cbo says will add 10 trillion dollars to our debt by the end of the budget window. it will weigh down our economy like an anger. by 2018, the economy will grow by two 0.2%. when people cannot find jobs, many stop looking altogether for work. this report is a warning of what is to come if we do not get spending
economy. -- on the 2013 budget and u.s. economy. from the house budget committee, this is two and a half hours. >> thank you again for coming and testifying. i want to thank you for your staff putting together the latest budget economic outlook. we understand you had a time crunch given the end of year episodes that occurred. i want to say that you didn't miss much of a deadline and to put out your baseline in a fairly quick form given the circumstances you had to contend in. i am sorry...
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Feb 17, 2013
02/13
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CNN
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economy actually shrank in the last three months of 2012. the storm clouds were ready to blow away and washington basically called them back. >> i think we're all aware that we have some urgent business to do. >> if not for indecisive, uncompromising, and polarizing politicians, america's economy could take off again. >> we are producing more energy and america can become an energy exporter. >> we're in the midst of an energy boom and it's lowering the price of electricity and bringing manufacturing back to america. a housing boom fueled by the lowest interest rates in history. and 35 months of private sector job creation. america's future could be great. >> i'd like to focus on what lies beyond the fiscal debate. >> i'd like to, too. but that's not possible the with a sequester deadline about to descend on the american economy. when will washington's small thinking about big problems end? if this week is any indication, the dysfunction won't end any time soon. earlier this week we learned the euro area experienced its third straight quarter
economy actually shrank in the last three months of 2012. the storm clouds were ready to blow away and washington basically called them back. >> i think we're all aware that we have some urgent business to do. >> if not for indecisive, uncompromising, and polarizing politicians, america's economy could take off again. >> we are producing more energy and america can become an energy exporter. >> we're in the midst of an energy boom and it's lowering the price of...
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Feb 14, 2013
02/13
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are bad for the economy and too much borrowing is that the economy particularly in the future we are projecting in spending cuts are bad for the economy will. that doesn't leave us with many options. options. >> commerce and the effects of fiscal policy on the economy are different under different economic circumstances. that is a widely held view of economists and that is the perspective that we take. under current economic circumstances with high demand for goods and services is low with the governments bring additional private demand lower taxes can increase the overall demand for goods and services and thus encourage businesses to hire more. under different economic circumstances that we expect we will have again by 10 years from now than there is -- in the competition you're describing the between the government and the private sector loans become become -- and smaller government -- to. [inaudible] >> mr. met dermott. mr. mcdermott. >> it's good to see you mr. elmendorf. your budget analysis is very interesting. for three years we have had to listen to the republicans flighting
are bad for the economy and too much borrowing is that the economy particularly in the future we are projecting in spending cuts are bad for the economy will. that doesn't leave us with many options. options. >> commerce and the effects of fiscal policy on the economy are different under different economic circumstances. that is a widely held view of economists and that is the perspective that we take. under current economic circumstances with high demand for goods and services is low...
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Feb 16, 2013
02/13
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economy? find out right now on "your money." >>> despite a recession in europe, major mergers in the united states show evidence that business is picking up. america could be on the road to prosperity if not for our politicians standing on the way. i'm ali velshi. this is "your money." there's ap economic storm hovering just off our shores. the headwinds are gathering strength as our elected official once again seem prepared to take the american economy to the brink of destruction. this time over a march 1st deadline for the across-the-board government cuts known as the sequester. >> this is not a game. this is reality. >> i don't like the sequester. it's taking a meat axe to our government. >> these steps would seriously damage the fragile american economy. >> still fragile enough that four years after the recession the u.s. economy actually shrank in the last three months of 2012. the storm clouds were ready to blow away and washington basically called them back. >> i think we're all aware t
economy? find out right now on "your money." >>> despite a recession in europe, major mergers in the united states show evidence that business is picking up. america could be on the road to prosperity if not for our politicians standing on the way. i'm ali velshi. this is "your money." there's ap economic storm hovering just off our shores. the headwinds are gathering strength as our elected official once again seem prepared to take the american economy to the brink...
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Feb 13, 2013
02/13
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our economy slarching the last few months of 2012. -- economy shrunk durnring the last few months of 2012. if we can get the economy to grow at 4% a year it will create middle class jobs. tax increase can't do this. raising taxes won't create private sector jobs. that's why i hope the president will abandon his obsession with raising taxes and instead, work with us to achieve real growth until our economy. one of the best ways to encourage growth is through our energy industry. god also blessed america with abundant coal and natural gas. instead of wasting more money on companies let's open up federal land for exploration. we can grow our energy industry, it will make us energy independent and it will help bring administering back from places like china. simplifying our tax code will also help the middle class because it will make it easier for smaller businesses to hire and grow. we agree with the president, we should lowerer our corporate tax rate so companies will bring their money and jobs back here from overseas. we can also help grow the economy if we have a legal immigration s
our economy slarching the last few months of 2012. -- economy shrunk durnring the last few months of 2012. if we can get the economy to grow at 4% a year it will create middle class jobs. tax increase can't do this. raising taxes won't create private sector jobs. that's why i hope the president will abandon his obsession with raising taxes and instead, work with us to achieve real growth until our economy. one of the best ways to encourage growth is through our energy industry. god also blessed...
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Feb 21, 2013
02/13
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>> even the japanese economy is about china. the american economy relies on them for the military and -- to maintain a stable balance of power in action -- they are concerned of a change in power. chinese growth makes the japanese economy important. and they will talk about china. >> they have to have japan act -- the second and third largest economies in china and japan, and japan is the counterbalance. >> the u.s. doesn't have the ability to stop china's growth, and will the major economies have the clout to write the rules and set the norms that make sure china's rise is useful. >> we could be talking ofut the security concerns china and japan. this is almost the same, keeping a check on the rising china. >> containing china is not in our means. there is a finite security problem, the island dispute where both sides have been more robust, shall we say, in pursuing the claims as japan buys the islands and china by swarming the waters with paramilitary units, much more aggrressive in the rules of engagement. the prime minister
>> even the japanese economy is about china. the american economy relies on them for the military and -- to maintain a stable balance of power in action -- they are concerned of a change in power. chinese growth makes the japanese economy important. and they will talk about china. >> they have to have japan act -- the second and third largest economies in china and japan, and japan is the counterbalance. >> the u.s. doesn't have the ability to stop china's growth, and will the...
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Feb 15, 2013
02/13
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WETA
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economy. and, hence, the opportunities this are really quite substantial, although everybody knows that these markets are quite volatile. the developed markets are more in a recovery mode. i'm thinking of europe bottoming some tomb later this year, and japan now aggressively easing with a new monetary policy under a new government likely to see a-- finally see a real acceleration of their growth. so it's some good stories out there. >> tom: you sound very optimistic when it comes to alei couple of big economies there that have been down in the dumps in europe for the better part of a couple of years. and, obviously, japan has been down for the better part almost a generation now. e.f.a. is theer tcki single of an exchange tradck fund that follows these areas. what are your hopes for this for a longer holding prld? >> well, i think that the first positive reaction here is likely to be a recovery in the market values of some of the major groups-- major investment groups in europe as people see t
economy. and, hence, the opportunities this are really quite substantial, although everybody knows that these markets are quite volatile. the developed markets are more in a recovery mode. i'm thinking of europe bottoming some tomb later this year, and japan now aggressively easing with a new monetary policy under a new government likely to see a-- finally see a real acceleration of their growth. so it's some good stories out there. >> tom: you sound very optimistic when it comes to alei...
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economy that much as it would just in the going to be no. but there's also will take some action against it though as well while until going to have won a battle at the w t o there is still a long fight ahead first time that a small country took on a war country in the world trade organization. and it was. kind of a you know a bad thing that the united states is just ignoring you know the ball is now in the court of this little island while the copyright left is now an official option to cash in on and to go hopes it might be able to negotiate a deal with the u.s. that is good for all before all ships have sailed and r.t. reporting from n t going barbuda in the caribbean. so that's it for me for the moment i'll be back with the team with more news for you in just under ten minutes from now stay with us if you can. i never knew adam lanza personally but i was in the same high school as adam he was younger than me just a little bit younger. i always thought he was different i always intercity funny he rarely talks and you don't he was a shy ki
economy that much as it would just in the going to be no. but there's also will take some action against it though as well while until going to have won a battle at the w t o there is still a long fight ahead first time that a small country took on a war country in the world trade organization. and it was. kind of a you know a bad thing that the united states is just ignoring you know the ball is now in the court of this little island while the copyright left is now an official option to cash...
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Feb 14, 2013
02/13
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the economy has shrunk for a third straight quarter. the european union's data office has announced gross domestic product for october to december 2012 contracted 0.6% from the previous quarter. that follows a negative growth of 0.1% for the july to september period. by country, portugal saw a 1.8% negative growth, spain minus 0.7% and italy minus 0.9%. the eurozone's leading economies also shrank. germany contracted by 0.6% and france by 0.3%. greece's economy shrank 6.0% compared to a year earlier. for the whole of 2012, the eurozone economy contracted by 0.5% as a whole. in 2011, the single currency area grew by 1.4%. >>> japan's gross domestic product for the final quarter of 2012 shrank slightly, that's for the october to december period. it marks the third straight quarter of contraction. cabinet office officials say it fell to a decline of 0.4% in annual terms. the base of decline was more moderate than the previous period when it was minus 3.8%. weak global demand was dragging down the economy. exports shrank 3.7%. capital spend
the economy has shrunk for a third straight quarter. the european union's data office has announced gross domestic product for october to december 2012 contracted 0.6% from the previous quarter. that follows a negative growth of 0.1% for the july to september period. by country, portugal saw a 1.8% negative growth, spain minus 0.7% and italy minus 0.9%. the eurozone's leading economies also shrank. germany contracted by 0.6% and france by 0.3%. greece's economy shrank 6.0% compared to a year...
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Feb 13, 2013
02/13
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our economy is stronger. when we honor else the talents and ingenuity of striving hopeful immigrants. and right now, leaders from the business labor law enforcement faith communities, they all agree that the time has come to pass comprehensive immigration reform. now is the time to do it. know is the time to get it done. if you want to vote no, that's your choice. but these proposals deserve a vote. graduations, anniversaries have been stolen from our lives by a bullet from a gun. our actions will not prevent every senseless act of violence in this country. in fact no laws, no initiatives, no administrative argues will perfectly solve all the challenges i've outlined tonight. but we were never sent here to be perfect. we were sent here to make what difference we can. to secure this nation, expand opportunities, uphold our ideals through the hard, often frustrating but absolutely necessary work of self government. >> rose: joining me from washington mark halperin from "time" magazine, your honor heilemann of "
our economy is stronger. when we honor else the talents and ingenuity of striving hopeful immigrants. and right now, leaders from the business labor law enforcement faith communities, they all agree that the time has come to pass comprehensive immigration reform. now is the time to do it. know is the time to get it done. if you want to vote no, that's your choice. but these proposals deserve a vote. graduations, anniversaries have been stolen from our lives by a bullet from a gun. our actions...
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Feb 14, 2013
02/13
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and that's growing the economy. i certainly welcome any help from president obama from my colleagues, republican democrat house senate. weep need to be growing this economy, not only will it create jobs which are so important to so many americans but it helps us in the deficit that is so crippling to our future. >> all right. we'll leave it there. thank you, gentlemen. senator argerry moran and steve case, appreciate it. >> facebook executive mark zuckerberg is hosting a political fund-raiser tonight but you might be surprised what politician it's for. we have a live report coming up. please stay with us. this is the "kudlow report." all right that's a fifth-floor problem... ok. not in my house! ha ha ha! ha ha ha! no no no! not today! ha ha ha! ha ha ha! jimmy how happy are folks who save hundreds of dollars switching to geico? happier than dikembe mutumbo blocking a shot. get happy. get geico. fifteen minutes could save you fifteen percent or more. today is gonna be an important day for us. you ready? we wanna be
and that's growing the economy. i certainly welcome any help from president obama from my colleagues, republican democrat house senate. weep need to be growing this economy, not only will it create jobs which are so important to so many americans but it helps us in the deficit that is so crippling to our future. >> all right. we'll leave it there. thank you, gentlemen. senator argerry moran and steve case, appreciate it. >> facebook executive mark zuckerberg is hosting a political...
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there are striving for weaker economies or weaker currencies to help boost economic growth. but on the other hand you know a strong euro can be taken as a reflection of confidence in the region of recovery and it can boost confidence so there's a little bit of a kind of a mismatch i guess between what the politicians want which is you know i think it better europe better currency which would then maybe sustain better confidence in the region where the industrious and central bank are of course concerned that it will hamper growth so it is a concern either way and of course the whole issue of currencies in general around the world is now becoming the major talking point a major economic issue you know for all central banks and for all economies. without a majlis have a look and see what european markets did today you can see reacting to that disappointing data release a whole plethora of we've got half a percent down for the footsie there london for the dax in frankfurt over up a cent in negative territory want to also mention that we had a contraction for the japanese econom
there are striving for weaker economies or weaker currencies to help boost economic growth. but on the other hand you know a strong euro can be taken as a reflection of confidence in the region of recovery and it can boost confidence so there's a little bit of a kind of a mismatch i guess between what the politicians want which is you know i think it better europe better currency which would then maybe sustain better confidence in the region where the industrious and central bank are of course...
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Feb 19, 2013
02/13
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because they were so-called developed economies. and so what i thought i would do here is just run through some of the lessons that we learned there that i think, you unfortunately, should have been looked at by the europeans. and they're only now starting to realize that they could have cut down this present negative situation because, let's face it, europe as a whole with a few exceptions is in either recession or stagnation. first, each country is unique and a cookie cutter approach does not work. this is something they didn't want to see. obviously, greece got into a situation by longtime mismanagement on the fiscal side, dragged the banks in. in the case of ireland, it was the banks that dragged sovereign in, much different i. wilbur is an expert on that. in the case of portugal, and we have some portuguese in the audience here, it was basically a decade of no growth in portugal. in the case of spain, it was a bubble in real estate that was financed by mainly the savings and loan institutions, some of which have gone under, a n
because they were so-called developed economies. and so what i thought i would do here is just run through some of the lessons that we learned there that i think, you unfortunately, should have been looked at by the europeans. and they're only now starting to realize that they could have cut down this present negative situation because, let's face it, europe as a whole with a few exceptions is in either recession or stagnation. first, each country is unique and a cookie cutter approach does not...